PlanOptica
Retirement plan

SOUND RETIREMENT TRUST

BOARD OF TRUSTEES, SOUND RETIREMENT TRUSTEIN 91-6069306Plan #001PY 2019
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11724 NE 195TH STREET, SUITE 300 - BOTHELL, WA 980113145206-282-4100
Prospect flagsLow returnsLow employer contribution

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
JOE MIZRAHI
Signed 07/10/2020
(206) 282-4100
Plan administrator signer
SCOTT KLITZKE POWERS
Signed 07/10/2020
How to read this page

Summary metrics

Total assets (EOY)
$2914.4M
-3.9% from 2017
Total participants
168,282
-4.9% from 2017
Average account balance
$0
No prior year
Annual return
5.57%
-11.79 pp from 2017

Benchmarks

See 222 peers
Peer group
Industryany (size+type match)
Plan typeDefined benefit
Participants>=10,000
Cohort222 peers
Snapshot2019
Participant deferral / active EE
$0
median $57
Employer contribution / active EE
$822
median $5,966
Participation rate
0.0%
median 0.0%
Avg account balance
$0
median $894,319,009
Admin fee / account holder
$0
median $2,968,729
Annual return
5.57%
median 16.59%
Overall peer rank
10th percentileavg across 6 metrics

Analytics

2016 - 2024
Total assets (EOY)
Plan-year ending balance
$2.60B
Average account balance
Total assets / participants with a balance (line 6g)
$22K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
41,113
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
0.0%
Contributions (total)
Employer and participant dollars contributed each year
$78.99M
Contributions per participant
Average employer and participant contribution per enrolled participant
$1K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+11.41%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$0
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
  • Mutual / pooled
  • Stocks
  • Bonds
  • Cash
  • Real estate
  • Loans

Service providers

Top 10 of 34 by compensation
ProviderService typeCompensation
HAMILTON LANE ADVISORS, LLC4+ years
Service code 28 · EIN 23-2962336
Investment Management
$2,145,343
ZENITH AMERICAN SOLUTIONS, INC2 years
Service code 10 · EIN 52-1590516
Accounting
$2,020,945
INDUSTRY FUNDS MANAGEMENT PTY LTD4+ years
Service code 52 · EIN 98-0569684
Indirect Investment Fees
$1,246,980
LOOMIS SAYLES & COMPANY, LP4+ years
Service code 28 · EIN 04-3200030
Investment Management
$1,201,589
PIMCO1 year
Service code 28 · EIN 33-0629048
Investment Management
$871,361
VERUS ADVISORY, INC.4+ years
Service code 17 · EIN 91-1320111
Pension Consulting
$558,000
PANAGORA ASSET MANAGEMENT4+ years
Service code 28 · EIN 04-3063840
Investment Management
$536,178
CHEIRON, INC.4+ years
Service code 11 · EIN 13-4215617
Actuarial
$407,452
RAEL & LETSON, INC.4+ years
Service code 11 · EIN 94-1701048
Actuarial
$365,276
SEYFARTH SHAW LLP4+ years
Service code 29 · EIN 36-2152202
Legal
$288,562

Enrolled actuary

1 attachment
MB

FIONA E. LISTON, PAUL L. GRAF

CHEIRON, INC. / RAEL & LETSON
Enrollment #2004267
8300 GREENSBORO DRIVE, SUITE 800
MCLEAN, VA 22102
(703) 893-1456
Signed 2020-06-29

Reportable transactions (Schedule G)

3 rows

Counterparties on defaulted loans (Part 1), defaulted leases (Part 2), and non-exempt prohibited transactions (Part 3). Presence of any row warrants fiduciary review.

CategoryCounterpartyRelationship / TermsAddressAmount
Part 1
Loan in default
ICG FDG LLC—
161 INVERNESS DRIVE WEST
ENGLEWOOD, CO 80112
—
Part 1
Loan in default
LEHMAN BROTHERS HOLDINGS—
745 7TH AVENUE
NEW YORK, NY 10019
—
Part 1
Loan in default
LEHMAN BROTHERS HOLDINGS—
745 7TH AVENUE
NEW YORK, NY 10019
—

Plan features & details

Pension benefit codes1A
Plan features
  • 1A
    Benefits are primarily pay related
    Benefits under the plan are primarily determined with reference to a participant's pay (e.g. final-average-pay formula).

Opportunity flags

2 tripped
  • OpportunityLow employer contribution

    Employer contribution per participant is in the bottom quintile of the peer cohort.

  • OpportunityLow returns

    Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II
Admin total
$20.4M
$193 / participant
  • Investment mgmt$14M66.8%
  • Contract admin$2M9.4%
  • Other / not subdivided$5M23.8%
% of EOY assets
0.699%
all-in expense ratio
Categories reported
2 / 9
subdivided buckets used

Audit opinion

Schedule H Part III
Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm
LINDQUIST LLP
Auditor EIN
522385296
Audit fees
(not subdivided)
Opinion code
Unqualified